Grasim Industries Limited announced that a wholly-owned subsidiary company in the name of "GRASIM BUSINESS SERVICES PRIVATE LIMITED" has been incorporated on 4th January 2023 under corporate identification number U74999MP2023PTC064213. Authorised Capital: INR 10,000,000, Subscribed Capital: INR 1,000,000. WOS is a related party of Company.

Industry to which the entity being acquired belongs: Providing business support service including Staffing solutions. Objects and effects of acquisition: WOS will carry on the business of business support services including staffing solutions. Nature of consideration - whether cash consideration or share swap and details of the same: 100% subscription to the share capital is in cash.

Grasim Business Services Private Limited, is a private company incorporated on 4th January 2023 under the provisions of the Companies Act, 2013, under the CIN-U74999MP2023PTC064213, having its registered office in the State of Madhya Pradesh. Its main object inter-alia is to provide business support service including Staffing solutions.